Updated CMS Lock Policy
May 26, 2020
Overview
Effective May 27, 2020 Carrington Mortgage Services, LLC (CMS) will offer a 60-day lock to brokers prior to loan submission when the loan has been registered in BrokerIQ.
| Loan Type | Available Lock Terms | Additional Requirements |
| All Loan Types | 60-Days | Loan registered in BrokerIQ |
| 15-Days | Loan must be Approved with All Conditions Submitted for final Clear to Close |
Lock Extensions:
- Maximum of up to two extensions
- Maximum extension period of 15 days in the aggregate
- Current extension fee charges remain in place (see rate sheet)
- Free 3 day remains in place (existing policy applies)
- No additional concessions will be considered for extension fees charged
Contacts
Please contact your Account Executive or Account Manager with any questions.
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An Equal Housing Opportunity Lender. Copyright 2007 -
2024
. Carrington Mortgage Services, LLC headquartered at 1600 South Douglass Road, Suites 110 & 200-A, Anaheim, CA 92806. NMLS ID # 2600. Toll Free # 800-561-4567. All rights reserved. Restrictions may apply. All loans are subject to credit, underwriting and property approval guidelines. Nationwide Mortgage Licensing System (NMLS) Consumer Access Web Site: